Valid from 01/04/2009

Part 7 U.K. Derivative contracts

Chapter 6 U.K. Special kinds of company

Insurance companies U.K.

634 Insurance companies U.K.

For the purposes of this Part, activities carried on by a company in the course of—

(a) any mutual insurance or other mutual business which is not life assurance business, or

(b) any basic life assurance and general annuity business,

are treated as not constituting the whole or any part of a trade.